PALESTINE JOINS 1991 EUROPEAN ENERGY CHARTER TREATY

Ramalah, 21 Dhulqo’dah 1435/16 September 2014 (MINA) – Palestine joined the 1991 Energy Charter Treaty on Monday to be the 65th country to sign the treaty.

The Palestine’s ambassador to the EU, Leila Shahid signed the charter in Brussels on behalf of the Palestinian Authority of Energy and Natural resources, Alray News Agency quoted by Mi’raj Islamic News Agency (MINA) as reporting.

The 1991 Energy Charter Treaty is an international agreement that establishes a multilateral framework for cross-border co-operations in the energy industry.

The Secretary- General of Energy Charter, Orban Rosnak , the Dutch ambassador , Ed Van Bohemian, and the Head of Middle East and North Africa in the charter Nedal Tayeh appreciated Palestine’s joining to the charter.

Shahid praised the efforts of General Secretariat headed by the Secretary-General for facilitating the joining of Palestine to the charter.

She also thanked all member state for accepting Palestine as a member.

The ambassador stressed on the importance of this step since it will facilitate regional cooperation regarding energy issues, pointing out to the need of establishing energy sector in Gaza.

The treaty covers all aspects of commercial energy activities including trade, transit, investments, and energy efficiency. The treaty is legally binding, including dispute resolution procedures.

Originally, the Energy Charter process was based on integrating the energy sectors of the Soviet Union and Eastern Europe at the end of the Cold War into the broader European and world markets. Its role however extends beyond East-West cooperation and through legally binding instruments strives to promote principles of openness of global energy markets and non-discrimination to stimulate foreign direct investments and global cross-border trade. (T/P003/R03)

Mi’raj Islamic News Agency (MINA)